Obiang Family It all starts
with Teodoro Obiang Nguema Mbasogo, the second president of Equatorial Guinea, who's held the
position for more than 40 years. During his reign, most citizens of this oil-rich nation
have continued to live in extreme poverty. That doesn't apply to the president's son, however.
Teodorin Obiang Teodorin Nguema Obiang built a lavish lifestyle
for himself, even though nobody really knows where he's getting all of his money. In fact,
his official government position as Forestry and Agriculture Minister was reportedly paying just
$6,500 per month. At the same time, he dropped a cool $30 million on a California mansion in 2006.
And that's not even close to the end of his extravagant spending. He also paid
vast sums for luxurious homes in South Africa,
Argentina, England, and France. Naturally, he felt the need to travel in style, too.
Teodorin reportedly spent about $1.5 million on a pair of Bentleys in one weekend. He also
added a couple of lightning-fast Lamborghinis to his collection, a Bugatti and an Aston Martin.
Among his other outlandish purchases was a Gulfstream jet that cost about $35 million
and a huge art collection valued at about $20 million.
Path to Power The third of 10 brothers,
Teodoro and his family moved to Equatorial Guinea from their home in Gabon so that his
parents could avoid paying taxes in that country. After his mother died, his father remarried,
and he went off to college, where he majored in labor administration.
His uncle, Francisco Macias Nguema, was named the nation's first president. He gave Teodoro
several influential positions within the government. His family's decision to move to
another country to evade taxes might have been a red flag. However, that was nothing compared
to the string of corruption and violence that followed Teodoro once he got a taste of power.
After joining the military and training in Spain, Teodoro rose through the ranks and
ultimately became a lieutenant. He went on to lead the National Guard.
He also became the governor of Bioko, an island province off Africa's west coast.
His most infamous position was probably as the head of Black Beach Prison, which gained a
troubling reputation for grossly mistreating its prisoners. Reports showed that inmates
were denied access to medical treatment and proper
nutrition despite international rules set by the United Nations.
Presidency Teodoro continued
his rise to prominence in Equatorial Guinea while his uncle held the title
of president throughout the 1970s. His various governmental positions weren't enough. He led
a violent coup that allowed him to take over as the country's authoritarian leader in 1979.
His uncle was sentenced to death, but the nation's citizens were afraid of his supposed magical
powers. To carry out the sentence, officials had to call help from neighboring Morocco.
At first, many people believed the new president would be a positive change after his uncle's
brutal reign. Teodoro promised a new beginning for the troubled nation upon taking office by force.
He stopped the practice of forced labor that had become commonplace under his uncle's regime and
even released those being held as political prisoners. Of course, he failed to offer any
apologies or explanations for the violence and terror he caused during the same period.
He’s ruled with an iron fist in the decades since, demanding that he be treated more like a god than
a president. In fact, he declared in 1993 that he should be revered as a deity. Years later,
one state-run media outlet described him as "the country's god." They asserted that he
had the authority to get rid of anyone he wanted without fearing punishment.
Oil-Rich Nation Equatorial Guinea's status as
an oil-rich nation cemented Teodoro's power on the world stage. He embraced the position as a god on
earth and has faced accusations of corruption, human rights abuses, and various atrocities.
You'd think an oil-rich nation would have overwhelming benefits for its people. On paper,
it certainly looks that way. After all,
the nation's gross domestic product per capita is among the highest in the world.
But that doesn't translate into wealth for individual citizens. Instead, most of that
money goes into the pockets of the president and his family members – specifically his son.
In response to the massive oil boom, Teodoro discovered that he could make
a ton of money by controlling who got a drilling contract. For that reason,
most of the meaningful contracts went to firms led by his family members.
Net Worth As a result of the
president's corruption, his nation's wealth is concentrated in one place. Even though
Equatorial Guinea has the highest per capita income in Africa, reports showed that roughly
7 in 10 citizens still live in severe poverty and can’t obtain the basic necessities of life.
Most people living in the nation don't even have clean drinking water. Furthermore,
roughly 2 out of every 10 children don't live past their fifth birthday. Those who
are fortunate enough to make it to adulthood are forced to live
with the consequences of poor nutrition and an inadequate educational system.
Teodoro and his family got richer as his countrymen suffered at the hands of his
corruption. According to one estimate, the president was worth $600 million,
making him one of the world's wealthiest political leaders.
Much of that wealth dates back to a decision he made in 2003 to take over
the national bank. He said it was part of an effort to stop corruption by other officials,
but it became clear to his critics that he was only interested in finding new ways to demonstrate
his own corruption. He reportedly put $500 million into dozens of family-controlled US bank accounts.
Several years later, he faced new accusations of fraud based on complaints that he used public
money for a series of extravagant private purchases. This included
several expensive homes and cars that his son bought for himself. By 2010,
the watchdog group Transparency International included Equatorial Guinea in its list of the
12 most corrupt countries in the world. Officials believe the family took in
billions of dollars in oil-related revenue without properly reporting that income.
The investigation by authorities in Spain, France, and the US ultimately led to the
seizure of many assets. That doesn't mean that Teodoro and his kin have learned their lessons.
A disproportionate amount of public money is still going toward the upkeep of presidential
residences. At the same time, the citizens of Equatorial Guinea continue to suffer in poverty.
Teodorin Obiang When you're rich beyond your wildest dreams,
almost nothing is off-limits. That's what Teodorin learned as he spent millions of
dollars on luxuries and hobbies while his father served as president. Many of these purchases
were pretty standard for the ultra-wealthy – things like cars, homes, artwork, and a jet.
However, a few of his expenditures were unique and reflected his personal passions. Among
the most obvious examples was his infatuation with Michael Jackson. When the pop star died in 2009,
Teodorin jumped at the chance to purchase a variety of personal items from the singer's
estate. Teodorin idolized Michael Jackson and believed that spending
money on memorabilia might give his wealth an air of legitimacy as his family continued
to face accusations of corruption. In the end, Teodorin achieved the distinction of
becoming the world's foremost collector of items related to the King of Pop.
Among the most valuable items that he added to his collection was Jackson's bejeweled
glove during the tour for his "Bad" album and the distinctive jacket he wore while touring
for the "Thriller" album. The memorabilia was said to be worth more than $1 million.
Playboy of Africa Teodorin's eclectic tastes and limitless
wealth make him feel like a superhero. Or maybe he considered himself more of an international
man of mystery. Both of those identities were reflected in his lavish spending habits.
In addition to his love of Michael Jackson, he was also obsessed with
Batman and James Bond. He regularly posted social media images of himself alongside various women
and a collection of expensive personal items. One of his vehicles was customized to resemble
the Batmobile. He also showed off a collection of specialized vehicles – like a submarine – as part
of a lifestyle that more closely resembled 007 than the son of an African president.
Instagram Life As citizens starved and succumbed to
preventable diseases, Teodorin grew more eager to spend his money and pose for Instagram. Of course,
he was frequently accused of corruption but refused to acknowledge or apologize for any
of his supposed misdeeds. In fact, he claimed that his family should be protected from any
consequences because of a concept known as diplomatic immunity. Investigators around
the world disagreed, though, and they looked deeper into allegations of bribery and extortion.
In 2012, four international organizations set up a meeting with the president to discuss
ways to address these troubling claims. They hoped to reform the
government of Equatorial Guinea and keep Teodoro's corruption in check.
About seven years later, authorities from Switzerland seized 25 luxury
cars and sold them at auction for a combined $27 million. That was the
final step in a decade-long probe led by investigators from several nations.
Other seized property included an extensive wine collection. Teodorin was convicted by
a French court of a money-laundering scheme that included embezzling roughly $100 million. However,
he appealed that decision, and prosecutors in Switzerland ultimately dropped their charges.
Seized It appeared that authorities had
finally caught up with the president's family, and they would face some serious consequences.
However, many critics say the property seized and sold at auction wasn't enough.
Even Teodorin's conviction in Paris was relatively insignificant considering the amount of money
he and his family had embezzled at the expense of their country's citizens. Although he denied
the charges, a court found him guilty and took control of property that he owned in France.
As for the sentence, however, Teodorin was ordered to pay a $35 million fine
and received a three-year prison sentence that was ultimately suspended. He never
spent a day behind bars and only gave up a fraction of his extravagant assets. To the
people of Equatorial Guinea, Teodorin got away with a slap on the wrist.
The US investigation ended in 2014, and Teodorin was ordered to turn over about
$30 million in assets. Still, that was less than half of what prosecutors hoped to get.
Adding insult to injury, he was allowed to keep many of his most
prized possessions – including his Gulfstream jet and his beloved Michael Jackson memorabilia.
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